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14. Stock Options (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of assumptions used | During the year ended December 31, 2019, the Company granted options to purchase 81,000 shares of common stock to officers. These stock options generally vest between one and three years. The fair value of these options was determined to be $117,797 using the Black-Scholes option pricing model based on the following assumptions:
Exercise Price | $1.99
Dividend Yield | 0%
Volatility | 125%
Risk-free interest rate | 2.44%
Expected life of options | 3.0 years
During the year ended December 31, 2020, the Company granted options to purchase 8,880,000 shares of common stock to officers. These stock options generally vest between one and three years. The fair value of these options was determined to be $12,231,185 using the Black-Scholes option pricing model based on the following assumptions:
Exercise Price | $1.39 - $10.00
Dividend Yield | 0%
Volatility | 121% - 122%
Risk-free interest rate | 0.31% -0.39%
Expected life of options | 5.0 years
Schedule of stock option activity | The following table summarizes the changes in the Company’s stock option plan during the year ended December 31, 2019 and December 31, 2020:
|  | Options Outstanding Number Of Shares |  | Exercise Prices Per Share |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price Per Share |
Balance at December 31, 2018 |  |  | 1,259,415 |  |  | $ | 2.09 - 12.00 |  |  |  | 2.50 years |  |  | $ | 7.39 |
Options Granted |  |  | 81,000 |  |  | $ | 1.99 |  |  |  | 3 years |  |  | $ | 1.99 |
Options Exercised |  |  | – |  |  | $ | – |  |  |  | – |  |  | $ | – |
Options Cancelled |  |  | 50,549 |  |  | $ | 1.99 - 2.70 |  |  |  | 4.51 years |  |  | $ | 6.34 |
Options Expired |  |  | – |  |  | $ | – |  |  |  | – |  |  | $ | – |
Balance at December 31, 2019 |  |  | 1,289,866 |  |  | $ | 1.99 - 12.00 |  |  |  | 6.49 years |  |  | $ | 7.18 |
Options Granted |  |  | 8,880,000 |  |  | $ | 1.39 - 10.00 |  |  |  | 4.91 years |  |  | $ | 1.66 |
Options Exercised |  |  | – |  |  | $ | – |  |  |  | – |  |  | $ | – |
Options Cancelled |  |  | 2,000 |  |  | $ | 1.99 |  |  |  | 3.18 years |  |  | $ | 1.99 |
Options Expired |  |  | 1,051,690 |  |  | $ | 2.70 - 2.82 |  |  |  | – |  |  | $ | 2.71 |
Balance at December 31, 2020 |  |  | 9,116,176 |  |  | $ | 1.39 - 10.00 |  |  |  | 4.84 years |  |  | $ | 1.69 |
Exercisable December 31, 2019 |  |  | 1,176,416 |  |  | $ | 1.99 - 9.00 |  |  |  | 6.25 years |  |  | $ | 7.67 |
Exercisable December 31, 2020 |  |  | 6,449,452 |  |  | $ | 1.39 - 3.17 |  |  |  | 4.87 years |  |  | $ | 1.44 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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